Common use of Placement Feature Clause in Contracts

Placement Feature. 5.1. Reciprocal and One-Way (a) If we are an FDIC-insured depository institution, we are eligible to use a feature of ICS in which, when we place deposits, we receive matching deposits placed by other participating institutions in ICS and may pay a fee to IntraFi (“Reciprocal Feature”). (b) Whether or not we are eligible to use the Reciprocal Feature, we are eligible to use a feature of ICS in which, when we place deposits, we do not receive matching deposits, but we and IntraFi may receive fees from Destination Institutions (“One-Way Feature”). (c) Section 2 of Schedule 2 provides (i) that we may use either the Reciprocal Feature or the One-Way Feature, (ii) that we will use only the Reciprocal Feature, or (iii) that we will use only the One-Way Feature. 5.2. Placement Feature and Rate (a) Interest on the Deposit Accounts will be earned at the specified Interest Rate regardless of whether the Reciprocal Feature or the One-Way Feature is used. (b) When the Reciprocal Feature is used, the fee paid to IntraFi may affect rate determination. When the One-Way Feature is used, fees paid by Destination Institutions, or cost-of-funds rates for Destination Institutions, may affect rate determination. (c) If we are eligible to use the Reciprocal Feature, and you authorize us to use either the Reciprocal Feature or the One-Way Feature, we may use a feature with greater benefits to you, to us, or both.

Placement Feature. 5.1. Reciprocal and One-Way (a) If we are an FDIC-insured depository institution, we are eligible to use a feature of ICS in which, when When we place deposits, we may receive matching deposits placed by other from participating institutions Destination Institutions in ICS and may pay a fee to IntraFi the Column Sweep Program (“Reciprocal FeatureDeposit”). . We may also place deposits without receiving matching deposits (b“One-Way Deposit”) Whether from Destination Institutions. We may in our sole discretion choose whether to receive a Reciprocal Deposit or not we are eligible use One-Way Deposits. We may pay fees to use the a Sweep Provider or others in connection with Reciprocal Feature, we are eligible to use a feature of ICS in which, when we place deposits, we do not receive matching deposits, but we Deposits. We and IntraFi Sweep Provider may also receive fees from Destination Institutions (“in connection with One-Way Feature”). (c) Section 2 of Schedule 2 provides (i) that Deposits. We may also receive fees from a Sweep Provider in connection with placements we may use either the Reciprocal Feature or the One-Way Feature, (ii) that we will use only the Reciprocal Feature, or (iii) that we will use only the One-Way Featuremake. 5.2. Placement Feature and Rate (a) Interest on the Deposit Accounts will be earned at the specified Interest Rate regardless of whether the Reciprocal Feature or the One-Way Feature is used. (b) When the Reciprocal Feature is used, the fee fees paid to IntraFi Sweep Provider may affect rate determination. When the One-Way Feature is used, fees paid by Destination Institutions, or cost-of-funds rates for Destination Institutions, may affect rate determination. (c) If we are eligible to use the Reciprocal Feature, and you You authorize us to use either the Reciprocal Feature Deposit or the One-Way FeatureDeposit, and we may use a feature with greater benefits to you, to us, or both.